Chadstone shopping centre shoppers spent almost $2bn in 2017

SHOPPERS spent nearly $2 billion at Chadstone last year, making it the highest-turnover shopping centre in the country as the largest malls defy the retail gloom.

SHOPPERS spent nearly $2 billion at Chadstone last year, making it the highest-turnover shopping centre in the country as the largest malls defy the retail gloom.

Top-tier centres scooped a ranking of the highest-selling and most productive malls in Australia, although other locations experienced a drop in productivity amid a challenging retail environment, the Shopping Centre News Big Guns 2018 report showed.

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Retail landlords have been remixing their centres to include eateries, massage shops and experiences that can’t be bought online as they deal with sluggish wages growth and a shift to online shopping.

Some landlords are also transforming their centres into mixed-use destinations, with a hotel project under way at Chadstone and apartment towers coming to The Glen.

Chadstone, jointly owned by Vicinity Centres and billionaire John Gandel, recorded $1.94 billion in moving annual turnover during 2017, up from $1.52 billion the previous year and in the wake of a major refurbishment completed in late 2016.

Turnover was lower at Southland, down 3.9 per cent.

Mirvac’s Broadway Sydney was the most productive centre, with $14,545 in moving annual turnover per square metre, up 0.5 per cent on the previous year.